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158 Penetang Street Barrie, ON L4M 1V8
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Key Details
Sold Price $1,250,000
Property Type Multi-Family
Sub Type Multi-5 Unit
Listing Status Sold
Purchase Type For Sale
Square Footage 4,076 sqft
Price per Sqft $306
MLS Listing ID 40640665
Sold Date 11/14/24
Bedrooms 10
Abv Grd Liv Area 4,076
Originating Board Barrie
Year Built 1955
Annual Tax Amount $8,458
Property Description
Over $35K of upgrades, including new electric service and chimney removal, will be completed before closing! Professionally managed 5-unit row property, currently all tenant-occupied on a month-to-month basis, generating a total monthly income of $7,459.53. This well-maintained property offers an attractive annual gross income of $89,514.36, making it an excellent investment opportunity. Each of the 2-bedroom units features 1 bathroom, with potential for an additional bedroom and bathroom below grade—buyer or buyer's agent to perform due diligence*. The property boasts a paved driveway completed in 2022 and a newer rear fence, enhancing its curb appeal and functionality. Purpose Built Each unit is equipped with separate electrical breaker panels, water service, and heating system for convenience and utility efficiency. LOCATION, LOCATION! Ideally situated close to major amenities, including Georgian Mall and Bayfield Mall, the property offers residents ample shopping and dining options. It is also conveniently located near public transit routes and just minutes to Kempenfelt Park, Downtown Barrie, Georgian College, and RVH. This building represents a seamless investment opportunity with strong rental income and professional management ready for assumption if needed, ensuring a stress-free ownership experience. Financial details are available upon request.
Location
Province ON
County Simcoe County
Area Barrie
Zoning NL2
Direction Duckworth St/Penetang St
Rooms
Basement Full, Partially Finished
Kitchen 0
Interior
Interior Features Separate Hydro Meters
Heating Forced Air, Natural Gas
Cooling None
Fireplace No
Appliance Dryer, Refrigerator, Stove, Washer
Laundry In-Suite
Exterior
Exterior Feature Year Round Living
Roof Type Asphalt Shing
Lot Frontage 76.0
Lot Depth 107.26
Garage No
Building
Lot Description Irregular Lot, Park, Place of Worship, Public Transit, Schools
Faces Duckworth St/Penetang St
Story 2
Foundation Poured Concrete
Sewer Sewer (Municipal)
Water Municipal
Level or Stories 2
Structure Type Brick
New Construction No
Others
Senior Community false
Tax ID 588240059
Ownership Freehold/None
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